Mergers & Acquisitions

European Commission grants unconditional approval for Celanese to acquire firm

Published in Biotech Business Week, August 8th, 2005

Acetex Corp. (ATX) announced that the European Commission (EC) has granted Celanese Corp. unconditional approval of the acquisition of Acetex.

As all necessary regulatory permissions have now been given and, as Acetex shareholders approved the transaction on January 12, 2005, Celanese expected to close the transaction on or about July 20, 2005.

Acetex Corp. has two primary businesses - its European acetyls business and the specialty polymers and films business. The acetyls business is, according to the company, Europe's second-largest producer of acetic acid and polyvinyl alcohol and third-largest producer of vinyl acetate monomer. These chemicals...

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Source: Biotech Business Week (2005-08-08)

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